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Bargain basement

Rotterdam Square sale could prove costly to town

$8.5M sale price less than a third of assessed value

The Rotterdam Square Mall after selling for $8.5 million Tuesday.
Photographer: Peter R. Barber
The Rotterdam Square Mall after selling for $8.5 million Tuesday.
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Rotterdam Square mall was sold to a private retail company last week for $8.5 million — less than a third of the mall’s assessed value. The deal, confirmed by new owner Mike Kohan of the Kohan Retail Investment Group, was closed last week. The sale price could have a significant impact on the mall’s assessed value of $30 million, meaning the property could be generating far less tax revenue than it has in the recent ...

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